For Durov, the innovations launched by Messenger this year show that social media platforms “can achieve financial sustainability while remaining independent and respecting user rights.”
Telegram became profitable for the first time in three years after the introduction of monetization: the total revenue exceeded $1 billion, said the founder of the messenger, Pavel Durov. The number of premium subscribers will triple to over 12 million by 2024, he said.
Also, Durov reported, advertising revenues increased.
“We end the year with more than $500 million in cash reserves, not including crypto assets,” he said.
The entrepreneur also said that in the fall Telegram paid off a “significant” part of its debt obligations, amounting to about $2 billion. For Durov, the innovations launched by Messenger this year show that social media platforms “can achieve financial sustainability while remaining independent and respecting user rights.”
After this message, SpaceX founder Elon Musk praised Durov on his social network X with the words “Good job.”
Durov said that Telegram began to show financial success in April, noting that in the first quarter the messenger achieved “positive cash flow.”
We remind you that Telegram’s total revenue for the first half of the year reached $525 million, which is 190% more than the same period in 2023.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.